Exploiting home equity becomes much more expensive
Personal finance columnist Dale Jackson claims that account started for borrowers who have tapped into their home equity. The rise in lending rates has mostly focused on how the added financial burden will affect regular mortgage payments, but as Jackson points out, interest rates for reverse mortgages and home equity lines of credit have reached “mind-blowing” levels.
Rethink subscriptions taken out during the pandemic
Some Canadians may have taken out delivery and entertainment subscriptions, such as streaming services and meal kits, during the height of the pandemic when they were stuck at home and spending on reaction were limited. Now that restrictions have largely been lifted, all those pandemic-era subscriptions could strain your wallet and cut into your savings.
Gas prices ‘hit consumers where it hurts’: BMO
Average gasoline prices in Canada exceeded $2 per liter for the first time in history. BMO Capital Markets Senior Economist Jennifer Lee warns that as gas prices continue to climb, the disposable income of Canadian consumers will come under increasing pressure. BNN Bloomberg’s Hilary Punchard has some tips to save a few dollars at the pump.
Think of emergency funds as pre-planned expenses to better prepare yourself: Advisor
Often, financial security comes down to being prepared for worst-case scenarios. Financial author Alyssa Davies told The Canadian Press that having an emergency fund can not only help you with unexpected financial burdens, but also help you stay on the right track for your financial goals.
Cash hoarding peaks in 2001 on stagflation fears
As stagflation fears mount and global growth prospects plummet, institutional fund managers are leave the money Some of their portfolios are accumulating at levels not seen since 2001. That’s according to a fund management survey from Bank of America, which described the results as “extremely bearish.”
“A recession is do not inevitable.”
– Investors are pricing in the growing likelihood of a recession, but some macro indicators suggest otherwise, according to Goldman Sachs strategists.
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